TS - Systems: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
TS - Systems
Largest movements
- Receivables within one year +€178,945
up €178,945 (+133%), from €134,781 to €313,725
of which Other amounts receivable: +€182,574
- Tangible fixed assets +€147,854
up €147,854 (+26.2%), from €563,272 to €711,126
of which Furniture and vehicles: +€140,798
- Current portion of long-term debt +€157,981
new in 2024: €157,981
- Reserves +€145,146
up €145,146 (+86.7%), from €167,372 to €312,518
of which Distributable reserves: +€145,146
- Tax, wage and social debts +€58,010
up €58,010 (+115%), from €50,245 to €108,255
of which Taxes: +€56,032
- Trade debts -€30,048
down €30,048 (-25.2%), from €119,026 to €88,978
- Gross operating margin +€365,204
up €365,204 (+96.5%), from €378,351 to €743,555
- Staff costs +€81,722
up €81,722 (+73.4%), from €111,412 to €193,134
- Depreciation +€80,381
up €80,381 (+53.0%), from €151,712 to €232,092
- Financial charges +€35,831
up €35,831 (+389%), from €9,223 to €45,054
- Other operating charges +€16,352
up €16,352 (+173%), from €9,478 to €25,830
From the 2023 result to the 2024 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €848,546 | €1,183,238 | +€334,692 | +39.4% |
| Fixed assets | 21/28 | €567,322 | €715,656 | +€148,334 | +26.1% |
| Tangible fixed assets | 22/27 | €563,272 | €711,126 | +€147,854 | +26.2% |
| Plant, machinery and equipment | 23 | €36,839 | €43,895 | +€7,056 | +19.2% |
| Furniture and vehicles | 24 | €526,433 | €667,230 | +€140,798 | +26.7% |
| Financial fixed assets | 28 | €4,050 | €4,530 | +€480 | +11.9% |
| Current assets | 29/58 | €281,225 | €467,582 | +€186,358 | +66.3% |
| Amounts receivable within one year | 40/41 | €134,781 | €313,725 | +€178,945 | +133% |
| Trade receivables | 40 | €62,165 | €58,536 | -€3,630 | -5.8% |
| Other amounts receivable | 41 | €72,615 | €255,189 | +€182,574 | +251% |
| Cash at bank and in hand | 54/58 | €146,444 | €150,180 | +€3,736 | +2.6% |
| Deferred charges and accrued income | 490/1 | - | €3,677 | +€3,677 | |
| Total equity and liabilities | 10/49 | €848,546 | €1,183,238 | +€334,692 | +39.4% |
| Equity | 10/15 | €185,922 | €331,068 | +€145,146 | +78.1% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €167,372 | €312,518 | +€145,146 | +86.7% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Tax-exempt reserves | 132 | €7,500 | €7,500 | = | 0.0% |
| Distributable reserves | 133 | €158,017 | €303,163 | +€145,146 | +91.9% |
| Amounts payable | 17/49 | €662,624 | €852,170 | +€189,546 | +28.6% |
| Amounts payable after more than one year | 17 | €367,024 | €371,956 | +€4,932 | +1.3% |
| Financial debts | 170/4 | €367,024 | €371,956 | +€4,932 | +1.3% |
| Amounts payable within one year | 42/48 | €295,600 | €480,214 | +€184,614 | +62.5% |
| Current portion of amounts payable after more than one year | 42 | - | €157,981 | +€157,981 | |
| Financial debts | 43 | €125,000 | €125,000 | = | 0.0% |
| Credit institutions | 430/8 | €125,000 | €125,000 | = | 0.0% |
| Trade debts | 44 | €119,026 | €88,978 | -€30,048 | -25.2% |
| Suppliers | 440/4 | €119,026 | €88,978 | -€30,048 | -25.2% |
| Taxes, remuneration and social security | 45 | €50,245 | €108,255 | +€58,010 | +115% |
| Taxes | 450/3 | €46,525 | €102,557 | +€56,032 | +120% |
| Remuneration and social security | 454/9 | €3,720 | €5,697 | +€1,978 | +53.2% |
| Other amounts payable | 47/48 | €1,329 | - | -€1,329 | |
| Remuneration, social security and pensions | 62 | €111,412 | €193,134 | +€81,722 | +73.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €151,712 | €232,092 | +€80,381 | +53.0% |
| Other operating charges | 640/8 | €9,478 | €25,830 | +€16,352 | +173% |
| Non-recurring operating charges | 66A | - | €214 | +€214 | |
| Gross operating margin | 9900 | €378,351 | €743,555 | +€365,204 | +96.5% |
| Operating profit (loss) | 9901 | €105,749 | €292,284 | +€186,535 | +176% |
| Financial income | 75/76B | €544 | €475 | -€69 | -12.6% |
| Recurring financial income | 75 | €544 | €475 | -€69 | -12.6% |
| Financial charges | 65/66B | €9,223 | €45,054 | +€35,831 | +389% |
| Recurring financial charges | 65 | €9,223 | €45,054 | +€35,831 | +389% |
| Profit (loss) for the period before taxes | 9903 | €97,071 | €247,705 | +€150,635 | +155% |
| Income taxes | 67/77 | €91,524 | €102,559 | +€11,035 | +12.1% |
| Profit (loss) for the period | 9904 | €5,547 | €145,146 | +€139,600 | +2,517% |
| Profit (loss) for the period to be appropriated | 9905 | €5,547 | €145,146 | +€139,600 | +2,517% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.